Regulations Governing Qualification Requirement and Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of Insurance Enterprises Article 11

An insurance enterprise shall, within 15 days after its chairperson, and managing directors, directors or supervisors that meet the qualification requirements set forth in Article 8, paragraph 1 herein have been elected or appointed, submit relevant qualification documents to the competent authority for approval; where the qualifications of the chairperson, managing directors, directors or supervisors are not approved by the competent authority, the competent authority may order the insurance enterprise to make changes within a prescribed period of time; The same shall apply if factual evidence shows that an individual does not possess the required good moral character or qualifications specified in Article 8, Paragraph 1 after taking office.Where an insurance enterprise has question over whether its chairperson, managing director, director, or supervisor to be elected or appointed meets the qualification requirements set forth in Article 8, paragraph 1, subparagraph 4 herein, the insurance enterprise may submit the qualification information for approval by the competent authority before the election or appointment.